Bitcoin pulls back near $79,000 after 23% rally; Treasury buyback plan and ETF inflows cited

Bitcoin has pulled back after a sharp week, with prices described as falling to about $79,000 on Wednesday after a 23% gain over seven days and trading near the $80,000 area earlier in the period ^{[1] [2]}.

Unchained linked much of the recent price move to reporting that U.S. Treasury Secretary Scott Bessent could tap a roughly $1 trillion Treasury cash account to fund an expanded bond-buyback program, but also noted that the Treasury’s committed buyback plan is to raise operations to at least $4 billion per operation and that this would not begin until September ^[1].

CoinDesk reported that August spot Bitcoin ETF inflows climbed above $3 billion and characterized ETF demand as holding steady while bitcoin paused after gaining 23% in seven days ^[2].

Blockonomi reported that Binance USDC inflow topped $470 million, described as the largest positive netflow in 174 days, and also said US spot Bitcoin ETFs recorded about $1.92 billion during their strongest week in 10 months ^[3].

CryptoPotato said bitcoin’s rally that began a week earlier reached over $81,000 for the first time since May, and also reported that XRP fell by over 4% and ZEC dropped by more than 7% after the debut of Grayscale’s ETF ^[4].

Finbold reported a view that bitcoin could decline toward long-term support levels before the 2026 U.S. midterm elections based on a historical pattern it attributed to TradingShot, while also noting bitcoin had recovered above $80,000 during the past week ^[5].